GameStop (NYSE:GME) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

GameStop Corp. (NYSE:GME) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.91 and traded as high as $24.83. GameStop shares last traded at $24.1650, with a volume of 4,744,754 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded GameStop from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $13.50.

GameStop Price Performance

The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 29.47 and a beta of 2.02. The company has a 50-day moving average of $22.34 and a 200-day moving average of $22.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.77 and a current ratio of 10.39.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $987.29 million. GameStop had a return on equity of 9.75% and a net margin of 11.08%.The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. As a group, equities research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Mark Haymond Robinson sold 12,200 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $21.00, for a total transaction of $256,200.00. Following the transaction, the general counsel directly owned 105,155 shares in the company, valued at $2,208,255. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel William Moore sold 5,477 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $20.44, for a total transaction of $111,949.88. Following the transaction, the insider directly owned 108,224 shares of the company’s stock, valued at $2,212,098.56. This represents a 4.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders acquired 517,000 shares of company stock worth $10,925,150 and sold 23,152 shares worth $480,059. 8.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Several institutional investors and hedge funds have recently added to or reduced their stakes in GME. Northwestern Mutual Wealth Management Co. raised its stake in shares of GameStop by 308.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock worth $26,000 after buying an additional 732 shares in the last quarter. City Holding Co. acquired a new position in GameStop during the third quarter worth $30,000. EverSource Wealth Advisors LLC raised its position in GameStop by 226.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after acquiring an additional 886 shares in the last quarter. Advisory Services Network LLC acquired a new stake in GameStop in the third quarter valued at $39,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of GameStop during the 4th quarter worth $39,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Company Profile

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.